In an effort to drive greater transparency between supply partners, Upper Midwest Consolidated Services Center (UMCSC) and healthcare technology online platform aptitude LLC have announced a new mulit-year business venture called UMCSC reveal.
The service intends to provide insight into performance of an industry leading aggregated hospital purchasing group.
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A Vizient Inc. SupplyNetwork, UMCSC includes over 60 healthcare organizations throughout 21 states. Its members have a combined total of $6.8 billion in supply chain purchasing power, and collaborate to reduce expenses by redesigning supply chain processes through collective decision making.
Meanwhile, aptitude has leveraged data and technology to advance aspects of the healthcare supply chain since its launch in 2013. As it continues to support the self-contracting activity between hospitals and suppliers, aptitude is anticipated to significantly increase contract volume in 2016.
As it attempts to transform complex data into actionable information, UMCSC sought out aptitude to allow the rapid deployment of the data sharing service. Through the agreement, aptitude will build and manage the new service by utilizing aspects of its existing technology stack, strong data assets and extensive knowledge of the industry.
“Our members are very focused on industry innovations, looking beyond traditional supply chain practices to empower new value," said Brenda Peterson, vice president of the UMCSC SupplyNetwork. "Our member led Business Development committee vetted this idea, gained input from 18 different suppliers and helped visualize this re-engineered relationship with suppliers."
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UMCSC reveal establishes a direct line into the UMCSC supply chain for contracted suppliers. Those organizations under contract with the group will be able to understand current, historical and future market share while reviewing competitive detail based on purchasing trends of the group, members and facilities.
While suppliers will receive immediate value from the initial service offering, they will also enter the ground floor on a longer-term vision, which will advance the modern day healthcare supply chain beyond the transaction.